Regulatory relief, one of the most coveted, broad-based goals of financial industry advocates, seems as close to becoming reality as it has been in recent memory as the Senate is set to cast the deciding vote on the “Economic Growth, Regulatory Relief and Consumer Protection Act.”

Paul Merski, the Independent Community Bankers of America’s (ICBA) group executive vice president of congressional relations and strategy, and Credit Union National Association (CUNA) Chief Advocacy Officer Ryan Donovan talked to Dodd Frank Update about the potential far-reaching implications of the legislation.

Find out more about what Congress’ actions could reveal about the likelihood of bipartisan support for future regulatory relief measures.

In reconciling their proposed tax reform bills, the House and Senate finalized a plan that alters provisions affecting pass-through corporations and the estate tax exemption, while retaining several provisions similar to those proposed by either of the two chambers.

The bill includes a pass-through rate lower than what both congressional chambers proposed, as well as other modifications.

Find out what financial trades representing banks and credit unions had to say about the bill.

There is a virtual standoff between two government officials, both claiming to be the rightful acting directors of the Consumer Financial Protection Bureau (CFPB), which could come down to a war of words. But not necessarily the kind that typically comes to mind.

President Donald Trump appointed Office of Management and Budget Director Mick Mulvaney to lead the bureau as interim director, citing the Federal Vacancies Reform Act. Just prior to his Nov. 24 resignation as CFPB director, Richard Cordray designated CFPB Chief of Staff Leandra English as deputy director of the bureau so that she would be in line for the acting director role, per the Dodd-Frank Act’s chain of succession.

Find out what could determine the resolution to the leadership dispute involving one of the most power federal agencies.

Amid a slew of controversy over the legitimacy of his role as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney detailed how he plans to proceed with running the agency, beginning with a temporary halt to many of its key functions.

Mulvaney stated during a press conference that he intends to examine the bureau’s rules and other functions and institute changes that are in line with the Trump administration’s agenda.

Find out more about what kind of approach he is planning to take and how it pairs with what the financial industry has advocated for regarding the bureau and its leadership.

Seemingly undaunted by challenges to his acting director status, Mick Mulvaney indicated that although he finds the Consumer Financial Protection Bureau’s (CFPB) policies, procedures and structure unnerving and in need of change, he respects the bureau’s staff.

His concerns regarding the bureau’s internal operations coincide with persistent arguments of the bureau’s biggest critics in Congress and in the financial industry, many of whom champion establishing a bipartisan commission to run the CFPB.

Find out more about Mulvaney’s thoughts regarding the bureau’s staff and functions.

The Consumer Financial Protection Bureau (CFPB) announced that it will be re-evaluating expanded reporting and data resubmission requirements under its Home Mortgage Disclosure Act (HMDA), set to take effect Jan. 1, 2018.

The bureau also stated that it will consider new HMDA rulemaking that could carry significant implications for lenders and service providers.

Find out how the much different the bureau’s approach to HMDA compliance may be in 2018, compared to previous guidance on the subject.

A federal judge has issued what many believe could be the first in a string of court rulings regarding the dispute over who legally should be the acting director of the Consumer Financial Protection Bureau.

Consumer Bankers Association (CBA) President and CEO Richard Hunt told Dodd Frank Update, based on insight he’s received from the legal team at the CBA, he thinks the dispute could continue beyond the timeframe it takes the Senate to approve a permanent director to run the bureau.

Find out what the CBA and other financial trade groups are saying about the on-going leadership dispute.

Consumer Financial Protection Bureau Deputy Director Leandra English has filed for a preliminary injunction against President Donald Trump, contending that his appointment of Mick Mulvaney as acting director of the CFPB runs contrary to federal statute.

English posed arguments premised on the bureau’s independent status in the face of detractors, including Republican senators calling her a “rogue employee.”

Find out more details about the arguments put forth in her argument and what her critics have to say about her actions.

A New York-based credit union has filed suit against President Donald Trump, alleging that he is involved in a “hostile takeover” of the Consumer Financial Protection Bureau.

The complaint characterizes the president’s appointment of Mick Mulvaney as the bureau’s acting director as a power grab, and states that Trump’s use of the Federal Vacancies Reform Act to appoint Mulvaney is unwarranted based on updated language in Dodd-Frank.

The Federal Housing Administration will stop insuring new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments in 2018.

The decision is part of a large-scale effort to protect the health of its Single Family Mutual Mortgage Insurance Fund and borrowers who depend on it, according to a press release by the Department of Housing and Urban Development.

Find out more details about the decision and what the potential results will be.

The Consumer Financial Protection Bureau’s (CFPB) controversial payday lending rule is the subject of a bipartisan push for the rule’s repeal.

House Republicans and, surprisingly, three Democrats co-sponsored legislation introduced Friday to employ the Congressional Review Act (CRA) to nullify the rule restricting access to short-term, small-dollar loans, and prevent the bureau from issuing a similar rule in the future.

Find out details about which legislators support the repeal effort and what reasons they cite.

The Mortgage Bankers Association (MBA) has expressed support for three bills affecting mortgage lenders that recently passed the House Financial Services Committee, along with 10 others that would impact the financial industry if adopted.

MBA President and CEO David Stevens released a statement explaining his organization’s position on H.R. 2948, amending the Secure and Fair Enforcement for Mortgage Licensing Act of 2008; H.R. 4545, dubbed the “Financial Institutions Examination Fairness and Reform Act,” and H.R. 4560, the “GSE (government-sponsored enterprise) Jumpstart Reauthorization Act of 2017.”

Find out what aspects of each bill caught the attention of the lending industry.

The House recently passed bipartisan bills that could benefit financial institutions and investors. The bills include provisions that would amend the Volcker Rule, restrict federal regulators from engaging in activities previously permitted under the Operation Choke Point initiative and help small- and mid-sized mortgage lenders.

Mountain America Credit Union and the Utah Jazz recently announced that the 5 For The Fight program was selected to receive one of five $5,000 donations handed out by “Pass It Along,” a program featuring fan nomination opportunities for local charitable organizations in Utah.

Indecomm Global Services, a provider of business process as a service, software as a service technology and learning products for the mortgage industry, has integrated its IncomeGenius automated solution for income calculations, with Lendsnap, a POS solution that collects borrower income and asset documents directly and securely from their source.

The Federal Housing Finance Agency (FHFA) recently issued a Request for Input to obtain feedback about the operational and competition considerations of changing Fannie Mae and Freddie Mac’s current credit score requirements.

The RFI provides background information about how credit scores are used by the government-sponsored enterprises (GSEs) and the mortgage industry, which credit score models the FHFA and the enterprises are evaluating and which models are under consideration.

Find out more information about what the agency has determined and what type of input is hoping to receive.

In the agency’s third biennial report on the state of the country’s credit card markets, the Consumer Financial Protection Bureau indicated increases in numerous aspects.

The report’s findings also offer insight about the numbers of credit cards cardholders have on average compared to the years before the recession, as well as when the bureau published its last report on the credit card market.

First-lien mortgage performance remained steady during the third quarter of 2017 compared to the previous year, according to a quarterly mortgage report published by the Office of the Comptroller of the Currency (OCC).

The OCC Mortgage Metrics Report, Third Quarter 2017, indicated that 94.8 percent of mortgages included in the report were current and performing at the end of the quarter.

Black Knight, Inc., a provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership life cycle, recently announced it has extended the Homebot client engagement tool to mortgage and home equity lenders.

ComplianceEase, an automated compliance solutions provider to the financial services industry, has expanded the integration between its flagship compliance solution, ComplianceAnalyzer, and LoanSphere Empower loan origination system (LOS) to include TRID Monitor, according to a company press release.

The Mortgage Bankers Association (MBA) Opens Doors Foundation announced it raised a record $1.8 million in calendar year 2017. In its fifth operation year, MBA Opens Doors has helped nearly 1,600 families with a critically ill or injured child receiving medical treatment meet their housing expenses.

The Consumer Financial Protection Bureau has withdrawn its request for information on its plan to conduct a web survey on debt collection disclosures, intended to inform future rulemakings on first- and third-party debt collection.

The survey would explore consumers’ understanding and decision-making process when exposed to debt collection disclosure forms.

Modifications to a 2016 interpretive rule clarifying certain provisions of the Military Lending Act regulation address several concerns the financial industry brought to the attention of the Department of Defense.

The American Bankers Association, Credit Union National Association and National Association of Federally-Insured Credit Unions noted several clarifications included in the amendments.

Learn more about what aspects of the rule the agency attempted to clarify.

The notion that good, old-fashioned customer service could be just the thing a lender or other financial service provider needs to guard against an unwanted visit from a federal regulator may seem quaint to some. However, evidence suggests it has validity.

Insellerate President and CEO Josh Friend said that reducing the risk of negative attention from the Consumer Financial Protection Bureau (CFPB) can be as simple as maintaining a free-flowing exchange of information with customers, speaking with Dodd Frank Update at the 2017 Mortgage Bankers Association’s Annual Convention and Expo in Denver, Colo.

Read on to find out what he said he has learned from his interactions with customers that could help companies stay off examiners’ radars.

State attorneys general from across the country recently wrote to President Donald Trump, stating their support for the Consumer Financial Protection Bureau’s (CFPB) mission and their intention to continue to enforce consumer protection laws regardless of changes in the bureau’s leadership or agenda.

Several AGs also filed an amicus brief supporting CFPB Deputy Director Leandra English’s lawsuit against Trump and his appointee to run the bureau, Mick Mulvaney.

Find out more details about what the state officials said in their letter.

The Federal Housing Administration has revealed its new maximum mortgage loan limits for FHA case numbers assigned on or after Jan. 1, 2018.

FHA is required by the National Housing Act, as amended by the Housing and Economic Recovery Act of 2008, to set Single Family forward loan limits at 115 percent of median house prices, subject to a floor and a ceiling on the limits.

In the name of working toward a bipartisan solution for reshaping the secondary mortgage market, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) noted his willingness to make concessions on some of his long-held stances regarding the government’s involvement in the housing system during a recent speech.

Among his principles for housing reform, Hensarling asserted that to protect taxpayers, the government has to institute measures geared toward building capital, establishing a fair playing field and guarding against issues associated with high-risk mortgages.

Find out more about Hensarling’s proposals for the future of the housing industry.

Nearly one month to the day after issuing a similar determination, the Government Accountability Office announced its legal opinion that a bulletin the Consumer Financial Protection Bureau published on fair lending risks in indirect auto lending constitutes a “rule” for purposes of the Congressional Review Act.

The Republican senator who urged the GAO to examine the guidance has said he will work to get it repealed.

Legislation to repeal Section 1071 of the Dodd-Frank Act, which amends small business data collection requirements in the Equal Credit Opportunity Act, has gained support from the financial industry.

Rep. Robert Pittenger (R-N.C.) introduced H.R. 4452, also known as the “Right to Lend Act of 2017.” If enacted, the bill would eliminate the statute requiring lenders to collect multiple data points from business loan applications and report to the government data on certain applications.

Read on to find out why many in the financial industry support this change.

The financial industry is largely optimistic about the Senate tax reform plan, which, known as the “Tax Cuts and Jobs Act,” includes many provisions supported by mortgage lenders.

Trade associations representing banks and credit unions noted how various provisions of the legislation will impact the financial industry, particularly those pertaining to corporate tax rates, mortgage servicing rights and exemptions.

Learn more about key provisions included in the final draft of the Senate bill that is headed to a joint House-Senate committee to undergo final revisions.

The Mortgage Bankers Association announced that mortgage credit availability increased by almost 1 percent in November, according to the association’s monthly Mortgage Credit Availability Index (MCAI).

The MCAI analyzes data from Ellie Mae’s AllRegs Market Clarity business information tool, which includes metrics and underwriting criteria for more than 95 lenders and investors.

Urging the agency to address concerns about consumer privacy, five financial trade associations have requested the Consumer Financial Protection Bureau withdraw its proposed guidance on loan-level Home Mortgage Disclosure Act data and replace it with an official rule.

The American Bankers Association, Consumer Bankers Association, Consumer Mortgage Coalition, the Financial Services Roundtable’s Housing Policy Council and the Mortgage Bankers Association submitted a joint letter stating that the guidance, which the bureau proposed in September, raises “profound concerns about the risks to consumer privacy, of identity theft and fraud.”

Find out what changes the trades are recommending to the bureau regarding mortgage data collection and reporting requirements.

The Independent Community Bankers of America (ICBA) recently filed a class action lawsuit against Equifax over the recent data breach that compromised approximately 145.5 million consumer records and 209,000 payment cards.

The organization is joined by Bank of Zachary, La., and First State Bank in Barboursville, W.Va., in the suit, requesting that the Northern District Court of Georgia direct Equifax to compensate all community banks harmed by the breach and to improve its security to prevent additional harm to consumers and to areas served by community banks.

Financial institutions insured by the Federal Deposit Insurance Corporation reported 5.2 percent more aggregate net income in the third quarter of 2017 than the previous year, despite a slowdown in lending growth, according to the agency’s latest Quarterly Banking Profile.

FDIC Chairman Martin Gruenberg characterized many of the report’s findings as “largely favorable.”

Consumer Financial Protection Bureau staffers continue to operate with two people claiming to be the bureau's acting director: Deputy Director Leandra English and Office of Management and Budget Director Mick Mulvaney. News in and around the CFPB is unfolding so fast, we are providing this live blog to track the latest for the industry.

The Federal Reserve and the Consumer Financial Protection Bureau recently issued two joint notices announcing the dollar thresholds in Regulation Z and Regulation M that will apply for determining exempt consumer credit and lease transactions in 2018.

The exemption thresholds are set pursuant to the Dodd-Frank Act amendments to the Truth in Lending Act and the Consumer Leasing Act.

Find out how the thresholds will change in the coming months and how they are calculated.

The Federal Reserve Board, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have issued information on the host state loan-to-deposit ratios, which are used to determine compliance under Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Review the ratios in Dodd Frank Update’s Library.